Pay group

Abstract

In one embodiment, a group account is provided to enable group members to make and receive payments, form different groups, easily track activities within a group, and manage group financial-based transactions. An administrator, who may also be a group member, creates a group through a payment provider service. The administrator invites individuals to be part of the group. Once the group is formed through individuals who accept the invitation, group members will be able to view information about the group as well as engage in financial transactions through and within the group using a group account.

1 . A method of performing financial transactions, comprising:
 receiving, by a processor of a payment provider, a request for a financial transaction from a member of an on-line financial group;   determining, by the processor, whether the request is for a deposit to or a withdrawal from an account of the financial group; and   transferring funds from an account of one or more members of the financial group if the request is for a deposit or transferring funds from the account of the financial group if the request is for a withdrawal.   
     
     
         2 . The method of  claim 1 , wherein the member making the request is an administrator of the financial group. 
     
     
         3 . The method of  claim 1 , further comprising notifying, by the processor, one or more payers, wherein the payers are members of the financial group. 
     
     
         4 . The method of  claim 3 , wherein the notifying is by email or text. 
     
     
         5 . The method of  claim 1 , further comprising updating a web page hosted by the payment provider when the account of the financial group changes. 
     
     
         6 . The method of  claim 5 , wherein the web page is viewable by all members of the financial group. 
     
     
         7 . The method of  claim 1 , further comprising receiving a request from a user to create the on-line financial group. 
     
     
         8 . The method of  claim 7 , wherein the request to create comprises information identifying invitees to join the financial group. 
     
     
         9 . The method of  claim 1 , wherein the request is for members of the financial group to deposit money into the account of the financial group for a financial transaction using the account of the financial group. 
     
     
         10 . The method of  claim 9 , wherein the transaction is for a purchase, a donation, or a payment. 
     
     
         11 . The method of  claim 1 , wherein the request is for members of the financial group to receive money from the account of the financial group. 
     
     
         12 . The method of  claim 1 , wherein the account of the financial group is accessed through the payment provider. 
     
     
         13 . The method of  claim 12 , wherein the access is through individual accounts of members of the financial group. 
     
     
         14 . The method of  claim 1 , wherein a web page showing the account of the financial group and the account of the financial group are managed by the payment provider. 
     
     
         15 . A machine-readable medium comprising a plurality of machine-readable instructions which when executed by one or more processors of a server are adapted to cause the server to perform a method comprising:
 receiving, by a payment provider, a request for a financial transaction from a member of an on-line financial group;   determining whether the request is for a deposit to or a withdrawal from an account of the financial group, wherein the account is managed by the payment provider; and   transferring funds from an account of one or more members of the financial group if the request is for a deposit or transferring funds from the account of the financial group if the request is for a withdrawal.   
     
     
         16 . The machine-readable medium of  claim 15 , wherein the method further comprises notifying one or more payers, wherein the payers are members of the financial group. 
     
     
         17 . The machine-readable medium of  claim 15 , wherein the method further comprises hosting, by the payment provider, a web page where members of the financial group can view information about the account. 
     
     
         18 . The machine-readable medium of  claim 15 , wherein the method further comprises receiving a request from a user to create the on-line financial group, wherein the request comprises information identifying invitees to join the financial group. 
     
     
         19 . The machine-readable medium of  claim 15 , wherein the request is for members of the financial group to deposit money into the account of the financial group for a financial transaction using the account of the financial group. 
     
     
         20 . The machine-readable medium of  claim 15 , wherein the request is for members of the financial group to receive money from the account of the financial group. 
     
     
         21 . The machine-readable medium of  claim 17 , wherein the web page is accessed through individual accounts of members of the financial group. 
     
     
         22 . An electronic payment processing system comprising:
 means for receiving a request for a financial transaction from a member of an on-line financial group;   means for determining whether the request is for a deposit to or a withdrawal from an account of the financial group, wherein the account is managed by the payment provider; and   means for transferring funds from an account of one or more members of the financial group if the request is for a deposit or transferring funds from the account of the financial group if the request is for a withdrawal.   
     
     
         23 . A method of performing financial transactions, comprising:
 receiving, by a processor of a payment provider, a request for a financial transaction from a member of an on-line financial group; and   transferring funds from an account of one or more members of the financial group to an account of the on-line financial group if the request is for a deposit.   
     
     
         24 . A method of performing financial transactions, comprising:
 receiving, by a processor of a payment provider, a request for a financial transaction from a member of an on-line financial group; and   transferring funds from the account of the financial group to an account of one or more members of the financial group if the request is for a withdrawal.